Südwestdeutsche Medien Holding wins bid for Germany's bestselling broadsheet

Südwestdeutsche Medien Holding (SWMH) has secured an additional 62,5 per cent stake in Süddeutscher Verlag, the Stuttgart group that publishes Süddeutsche Zeitung, Germany's largest daily broadsheet. The group, which is Germany's third largest publisher of daily newspapers, already controls 18,73 per cent of the shares in the company (via Spiegel/Reuters).

The acquisition, due to be completed 29 February 2008, puts an end to months of speculations about the German publisher's future: pan-European media company Mecom and private equity firms Apax, 3i and Providence were all rumoured to have lined up bids (The Australian via Iann). It is also a setback for Mecom-boss Montgomery's ambitions to become the third largest newspaper publisher in Germany.